Corporate Culture And Euro Disney

7 Pages 1707 Words

t to these European governments was an estimated 30,000 jobs that a Disney park would create as well as, providing assistance with the overall economic improvement for France (Rudolf, 1991).
During the first year of operation, Euro Disney became the most popular tourist attraction in Europe with 11 million visitors (Giltin, 1994). While that news sounded good, Disney had expected over 12 million guests and a 10 percent greater expenditure by those guests. Europeans were spending less and leaving sooner than was projected by the Disney Corporation’s market experts (Giltin, 1994). By the end of Disney’s first year the corporation was losing over 1 million US dollars a day and it was 1 billion dollars in the red (Echickson, 1993).
As an emergency response, a team of American experts was hired to assess and solve the problem. One team member stated, “Our first major challenge was convincing Disney CEO, Michael Eisner that there was a problem. He thought it all would “iron itself out” (interview with Disney financial consultant, 1996). Over the course of the next two years the company was completely restructured and renamed. During the initial years of Euro Disney, Euro-Disneyland and Disneyland, Paris (all one in t...